Housing leaders are taking a step back to take a step forward by evaluating their strategy and realigning their metrics. This Forbes story discusses how a couple of housing players are doing that and the impact it has had on their business.
We live in a day and age of obscene amounts of data. Instead of the challenge being a lack of access to data, the challenge has become determining what data is important.
At the World Business Forum in New York in October last year, Simon Sinek, renowned author and leadership guru, spoke to me about the housing crisis. He suggested that housing leaders think about how to put metrics in place that measure progress, not that measure money.
Simon Sinek, author and leadership guru, shared leadership thoughts for the housing community at the ... [+] WORLD BUSINESS FORUM
That may mean creating new metrics, metrics that take into account community, green space, or crime. It may also necessitate actually listening to stakeholders. New metrics based on stakeholders’ needs and desires will lead a path to resiliency, creating a culture and building a structure that can help an organization survive hard times.
As a strong example of that, Sinek pointed out that the World Economic Forum is discussing how to measure happiness so that it can be the new measure of a country’s wealth, instead of the age-old gross domestic product, GDP.
Some leaders in the housing industry are identifying their new metrics and building a business around them, despite what might be seen as negative cosmetic consequences.
For instance, in 2019, LB Building Products announced that it was rebranding as LP Building Solutions. The company’s CEO, Brad Southern, led the change to be more solutions-oriented by, as Sinek advised, listening to customers.
Read More
